You probably don’t think you use Artificial Intelligence (AI) on a regular basis, but if you have a smart home device, check out recommended products on Amazon, or use Google’s local search results, you’re using artificial intelligence.
AI is also impacting modern businesses and major technology systems like ERP. According to Gartner, AI will be native in almost every new software product in 2020. Whether you invest in a new ERP system now or five years from now, AI will be a part of that system.
But, how will AI work within your ERP system and impact the everyday user? Here are three ways that AI will transform modern ERP systems as you know it and it can benefit your business:
- Artificial Intelligence turns all the data collected by Internet of Things (IoT) devices into meaningful analysis. Manufacturers have been hearing about Industry 4.0 and IoT for years, but how do you turn all the information collected by sensors tracking products into data you can make decisions from? AI takes all the data collected by your ERP system and turns it into recommendations for more efficient processes.
- AI in an ERP system lets your employees focus on what’s important. Technology lets you automate routine performances so that your employees can focus on tasks that require creative or the critical thinking that AI can’t do. Having AI integrated into your ERP takes this to the next level, by allowing more tasks to be automated and serving insights to the employee so that they can use their own knowledge to address issues or modify processes. AI will then learn from the changes that the employee inputs into the system
- AI makes data analysis faster so you and your employees can make impactful decisions sooner. There are limits to the amount of information that humans can comprehend in a certain time period, but AI can process years of data and see patterns to make recommendations in minutes. AI can also take your historical information and use it to predict future trends, allowing your businesses to be ahead of the competition. And this isn’t just limited to data that you’ve collected. AI can also combine data from multiple sources and add it to your own information and produce a relevant analysis quickly and effectively.
When companies leverage a modern ERP system, like Dynamics 365 for Finance and Operations, with AI already integrated into it, those companies reap the benefits of having an unified system.
- Gain visibility and digital intelligence into their organization
- Deliver better customer experiences with accurate data at hand
- Automate processes so employees can focus on priorities
- Make important business decisions quicker with real-time insights
- Stay ahead of the competition with AI predicted future trends
To talk with an expert about whether or not your company is ready for a modern ERP system with AI, contact us, we’d happy to talk out the pros and cons with you.
Author: Craig O'Connor, Director of Business SolutionsOther articles you might be interested in: